On September 19th, Nirvana Finance announced its recovery plan following the hack in July 2022. In July 2022, hacker Shakeeb Ahmed stole around $3.5 million in stablecoins by manipulating the protocol's pricing mechanism. Through cooperation with the U.S. Department of Justice, Homeland Security, and the IRS, Nirvana successfully recovered the stolen funds and Ahmed was sentenced to three years in prison. He was also required to return the cryptocurrency and pay $3.4 million in restitution. Nirvana plans to launch its V2 mainnet in mid-October and initiate a victim compensation process.